ARM Reports Results For The Fourth Quarter And Full Year 2013 - Growth Slower Than Expected

CAMBRIDGE, UK, 4 FEBRUARY 2014 —  ARM Holdings plc announces its unaudited financial results for the fourth quarter and full year ended 31 December 2013.

Q4 2013 – Financial Summary

 

Normalised*

 

IFRS

Q4 2013

Q4 2012

% Change

 

Q4 2013

Q4 2012

Revenue ($m)

302.9

262.8

15%

 

302.9

262.8

Revenue (£m)

189.1

164.2

15%

 

189.1

164.2

Operating expenses (£m)

88.1

79.7

11%

 

170.3

98.9

Operating margin

48.8%

46.6%

   

5.0%

34.5%

Profit before tax (£m)

95.5

80.0

19%

 

12.2

59.5

Earnings per share (pence)

5.3

4.1

30%

 

(0.4)

3.0

Net cash generation (£m) **

77.9

74.1

       

Effective revenue fx rate ($/£)

1.60

1.60

       

FY 2013 – Financial Summary

Normalised*

 

IFRS

FY 2013

FY 2012

% Change

 

FY 2013

FY 2012

Revenue ($m)

1,117.7

913.1

22%

 

1,117.7

913.1

Revenue (£m)

714.6

576.9

24%

 

714.6

576.9

Operating expenses (£m)

326.5

284.2

15%

 

521.8

336.9

Operating margin

49.1%

45.6%

   

21.5%

36.1%

Profit before tax (£m)

364.0

276.5

32%

 

162.6

221.0

Earnings per share (pence)

20.6

14.7

40%

 

7.4

11.5

Net cash generation (£m) **

344.5

267.3

       

Effective revenue fx rate ($/£)

1.56

1.58

       

*

Normalised figures are based on IFRS, adjusted for acquisition-related charges, share-based payment costs, profit or loss on disposal and impairment of available-for-sale investments, share of results in joint venture, Linaro™-related charges, intangible amortisation, and exceptional items. For reconciliation of IFRS measures to normalised non-IFRS measures detailed in this document, see notes 12.13 to 12.16.

**

Net cash generation is defined as movement on cash, cash equivalents, short-term and long-term deposits, adding back dividend payments, investment and acquisition consideration, other acquisition-related payments, share-based payroll taxes, investment in joint venture, payments to Linaro, cash impact of exceptional items and deducting inflows from share option exercises and investment disposal proceeds – see notes 12.8 to 12.12.


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